Lucidity, a multi-cloud storage management platform, has raised $21 million in a Series A funding round led by WestBridge Capital with participation from existing investor Alpha Wave.
The fresh funds raised will be used to expand the go-to-market team and continue innovating the platform to solve key storage management problems for enterprises worldwide.
This funding round follows a seed round follow-on by Beenext in June 2024. The company had raised $500K in a pre-seed round and $5.3 million in a seed round in 2022. The company has raised a total of $31 million in funding to date.
“Many enterprises struggle with properly managing their cloud storage, as it’s a challenging area to solve that hasn’t received proper attention until now. Lucidity delivers the only platform for ITOps and DevOps organisations to automatically manage and optimize their block storage in real-time across all three major cloud providers while significantly reducing costs. As a result, we’re honored by the ongoing interest we’ve received and the opportunity to work with some of the largest enterprises in the world to empower them to seamlessly manage their cloud storage for the first time,” said Nitin Bhadauria, Cofounder at Lucidity.
“The need for cloud storage resources is growing with ongoing advances in AI and a simultaneous need to reduce overall cloud spend. Lucidity fundamentally transforms how enterprises manage and orchestrate their cloud storage infrastructure across AWS, Azure, and Google Cloud. Lucidity’s unparalleled platform increases storage efficiency and significantly reduces costs for customers of all sizes. We are thrilled to back Nitin, Vatsal, and the Lucidity team in this next chapter of growth,” said Rishit Desai, Partner at WestBridge Capital.
Founded in 2021 by Vatsal Rastogi and Nitin Bhadauria, Lucidity’s cloud storage management platform uniquely automates block storage expansion and shrinking of storage volumes based on real-time data demands, helping the world’s largest enterprises cut costs by up to 70%.
Its NoOps, autonomous, application-agnostic layer seamlessly integrates with existing applications and environments—without requiring a single line of code to be changed.
By streamlining operations, Lucidity enables IT and DevOps organisations to reclaim hundreds of hours, allowing teams to focus on higher-impact initiatives that drive innovation and efficiency.
Lucidity has achieved an impressive 400% year-over-year growth, driven by industry-first innovations that automate and optimize cloud block storage utilization.
Enterprises like World Market, Dometic, and global Fortune 500 companies, including one of the world’s largest airlines and a leading credit ratings firm, have leveraged Lucidity’s unique technology to significantly improve their cloud storage utilization and reduce cloud spending.
